October 11, 2011 by staff
Odyssey Marine Exploration (OMEX) said they found the remains of the SS Mantol, which sank Feb. 9, 1917, after being torpedoed by German submarine U-81 during World War
The ship was insured for carrying silver worth 110,000 pounds when he left Britain in 1917. This value means it could contain up to 600,000 ounces of silver – nearly 19 tons – based on silver prices at the time. Odyssey will retain 80% of the value of silver recovered. At current market prices, which would be worth a lot of money over and 19 million.
The company is preparing an expedition to recover due to start next spring. He said his participation in the benefits contribute significantly to the financing of future operations.
The wreck is about 100 kilometers from an earlier, found by Odyssey. The SS Gairsoppa sank in 1941 with a cargo reported up to 7 million ounces of silver. Odyssey announced that it found last month.
The Tampa-based company, which uses remote control vehicles underwater to locate and rescue remains a little explored ever deeper water, is immersed in a protracted legal with the government of Spain for more than 17 tons of silver and other treasures salvaged from the wreck of a galleon sunk in 2007.
Odyssey International made a splash when he flew the treasure back to Florida in May 2007. The Spanish government immediately filed suit in federal court that he never gave up ownership of the Nuestra Senora de las Mercedes and its cargo.
The federal court sided with Spain. Last month, a panel of three judges of the Court of Appeals 11th Circuit in Atlanta upheld the decision, but Odyssey has requested a rehearing before all judges of the court.
The treasure, which has been estimated to be worth up to 500 million and still in possession of Odyssey in an undisclosed location.
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